Ironwood Pharmaceuticals, Inc. (IRWD) Upgraded to “Buy” by BidaskClub
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
IRWD has been the subject of several other research reports. Mizuho raised their price objective on shares of Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Wedbush reissued a “neutral” rating and issued a $13.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Tuesday, May 9th. Wells Fargo & Company assumed coverage on shares of Ironwood Pharmaceuticals in a report on Wednesday, May 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Ironwood Pharmaceuticals in a report on Tuesday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of Ironwood Pharmaceuticals in a report on Monday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.20.
Ironwood Pharmaceuticals (NASDAQ IRWD) traded down 0.15% during midday trading on Friday, hitting $19.58. 1,121,527 shares of the stock traded hands. The company’s 50-day moving average is $17.67 and its 200 day moving average is $16.53. The firm’s market cap is $2.91 billion. Ironwood Pharmaceuticals has a 12-month low of $12.02 and a 12-month high of $19.66.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.14. Ironwood Pharmaceuticals had a negative net margin of 46.49% and a negative return on equity of 195.06%. The business had revenue of $52.16 million during the quarter, compared to analysts’ expectations of $69.39 million. During the same period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, analysts anticipate that Ironwood Pharmaceuticals will post ($0.91) EPS for the current fiscal year.
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In other Ironwood Pharmaceuticals news, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $18.20, for a total transaction of $546,000.00. Following the sale, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.63% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in Ironwood Pharmaceuticals by 132.1% in the first quarter. Strs Ohio now owns 6,500 shares of the biotechnology company’s stock worth $110,000 after buying an additional 3,700 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Ironwood Pharmaceuticals during the fourth quarter worth $171,000. Raymond James Financial Services Advisors Inc. bought a new stake in Ironwood Pharmaceuticals during the fourth quarter worth $172,000. Jane Street Group LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth $194,000. Finally, Karp Capital Management Corp bought a new stake in Ironwood Pharmaceuticals during the first quarter worth $201,000. 98.19% of the stock is currently owned by institutional investors.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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